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Property profile & analytics
OFF-MARKET
Estimated value
$520,000
Auto shops
1460 12th St Erie, PA 16501
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US73-1496676
Property profile
Verified
Property type
Auto shops
Use group
AUTO REPAIR, GARAGE
Year built
1990
Construction
FRAME
Total area
7,980 SF
Lot
0.57 ac (24,820 SF)
Zoning code
M1
APN
16-031-002.0-103.00
UPID
US73-1496676
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$460k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$460k
Blend (final)
Blend
$520k
Owner & transaction history
L S Real Prop Svc Of Erie LLC · 5 yrs held
L S Real Prop Svc Of Erie LLC
since 2020
Last sale
$525,000
7 recorded transactions
Zoning & alternative use
M1 · Erie, PA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$655,000
+18.5%
Restaurant
$655,000
+18.4%
Retail stores
$655,000
+18.1%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Erie submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Erie submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$495,000
ML approach
$460,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
AUTO REPAIR, GARAGE
$555,000
Current use
OFFICE BUILDING
$655,000
Change: +19% · Conversion: Difficult
RESTAURANT
$655,000
Change: +18% · Conversion: Difficult
RETAIL STORES
$655,000
Change: +18% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$650,000
Change: +18% · Conversion: Difficult
Blend value · Realmo final
$520k
Range $468k – $572k · ±10% · vs last sale $525k (Oct 9 2020)
Last sale anchor
$525k
Oct 9 2020
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$65 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$9,728
Tax year 2023
Assessed value
$276,775
Assessed 2024
Previous assessed
$255,700
+8.2% YoY
Effective rate
3.51%
On assessed value
Assessed land
$99,300
Assessed improvement
$177,475
Land market value
$99,300
Improvement market value
$177,475
Total market value
$276,775
Applied tax rate
16.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Auto shops
Use group
AUTO REPAIR, GARAGE
Status
Off-Market
Year built
1990
Construction
FRAME
Heating
NONE
Stories
2
Total area
7,980 SF
Lot
0.57 ac (24,820 SF)
Zoning code
M1
APN
16-031-002.0-103.00
UPID
US73-1496676
Jurisdiction
ERIE
Zoning & alternative use
M1 · Erie, PA
Zoning M1 · permitted uses
M1 · Erie, PA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Erie. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
AUTO REPAIR, GARAGE Current
Est. value
$555,000
OFFICE BUILDING
Est. value
$655,000
RESTAURANT
Est. value
$655,000
RETAIL STORES
Est. value
$655,000
APARTMENT HOUSE (5+ UNITS)
Est. value
$650,000
AUTO REPAIR, GARAGE Current
OFFICE BUILDING
RESTAURANT
RETAIL STORES
APARTMENT HOUSE (5+ UNITS)
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1990
Construction
FRAME
Heating
NONE
Stories
2
Lot
0.57 ac
Current owner
From public records · entity-resolved
L S Real Prop Svc Of Erie LLC
Entity
Mailing address
1460 W 12TH ST, ERIE, PA 16501
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 16, 2020
—
Ls Real Prop Svcs Of Erie LLC
—
Deed
related
$187,500 · Eriebank
Oct 9, 2020
$250,001
L S Real Prop Svc Of Erie LLC
Jeffry G Sheriff/ Erie County|howell
Foreclosure
—
Sep 13, 2017
—
Jeffry G Howell
—
Deed
related
$10,785 · Eriebank
Jul 19, 1999
—
Jeffry G Howell
Howell,richard J & Susan J
Quit Claim Deed
related
$300,000 · Mellon Bank
—
—
Jeffry G Howell
—
Deed Of Trust
related
$300,000 · Eriebank
—
—
Jeffry G Howell
—
Deed Of Trust
related
$39,000 · Northwest Savings Bank
—
—
Jeffry G Howell
—
Deed Of Trust
related
$50,000 · Dean J Bagnoni
—
—
Jeffry G Howell
—
Deed Of Trust
related
$10,785 · Eriebank
—
—
Ls Real Prop Svcs Of Erie LLC
—
Deed Of Trust
related
$187,500 · Eriebank
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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